Separation Agreement with No Fault

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Separation Agreement with No Fault Powered By Docstoc
					This is an agreement between a husband and wife that intend to amicably end their
marriage and separate permanently. This agreement is useful for both parties because
it avoids costly and time consuming divorce litigation. In addition, this agreement can
specify whether the couple has any children and how they decide to share the custody
over their children. This agreement can be used by married couples that have children
and want to reach an amicable separation agreement.
    SEPARATION AGREEMENT – NO FAULT

THIS SEPARATION AGREEMENT (the “Agreement” made the___ day of ______,
201____ (the "Effective Date") by and between ______________________ (“Wife”) and
____________________________ (“Husband”);

A. BACKGROUND

      The parties were married on the _____ day of ___________, _____, in the City of
_______________, in the State of ____________________.

       The Wife and the Husband have agreed to live separate and apart and have lived
separate and apart since the ____ day of ___________, ____.

    A. The Wife and the Husband intend to continue to live separate and apart according
to the terms and conditions described in this agreement. Each shall be free from
interference, authority and control by the other as if each were unmarried. In addition,
the parties intend the terms of this Agreement to be:

   1.    A final settlement of their respective rights to property, which are accurately and
        completely described in this Agreement;

   2.    Final settlement of custody, access, guardianship and support, understanding that
        custody and child support issues in all states are governed by the applicable laws
        therein.

The Wife and the Husband have ____________ children of the marriage, as follows:

Name of Child                                            Date of Birth__________

___________________________                         _______________________

___________________________                         _______________________


            This Agreement shall govern the rights and responsibilities of Wife and
Husband, now as divorced persons. When approved by a Judge of Probate & Family
Court with jurisdiction of these persons and this divorce case, this Agreement shall
legally terminate the marriage between Husband and Wife. Thereafter, the two parties
shall no longer be referred to as husband and wife.

            The laws of the State of ___________________ shall govern this Agreement.


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             This Agreement may be amended or varied by a court order of the applicable
jurisdiction, approving a written agreement between Husband and Wife.


B. CUSTODY AND ACCESS OF CHILDREN
(strike out what does not apply)

        The [Wife/Husband] shall have [sole/joint] custody and the [Wife/Husband]
shall have primary residency of the following [child/children]:

Name of Child                  Age                     Date of Birth

___________________________                        _______________________

___________________________                        _______________________


The [Wife/Husband] shall have access to the children on the following terms:
________________________________________________________________________
________________________________ (enter terms of access).

Guardianship of the Children (the appointment of a third party to care for any non-adult
Children) in the event the Wife or the Husband dies or becomes incapacitated shall be as
follows. The Wife and the Husband hereby appoint guardians of the [child/children]
named below and further agree as follows:

________________________________________________________________________
(enter name of appointed guardian and alternative if wished)


C. CHILD SUPPORT
(strike out what does not apply)

       In accordance with the child support guidelines of the applicable jurisdiction, the
[Wife/Husband] shall pay to the [Wife/Husband] for child support the sum of
___________ ($_______) Dollars [weekly/bi-weekly/monthly], commencing on the
____ day of ___________, _______, and shall continue until the [child/children] of the
marriage reach the age of majority in the applicable jurisdiction.

The [Wife/Husband] shall pay to the [Wife/Husband] n respect of extraordinary
expenses the sum of ___________ ($________) Dollars, to be paid to the
[Wife/Husband] at the time the above-referenced child support is payable.

The Wife and the Husband shall each provide to the other a complete copy of his or her
income tax return and any copies of notices received from the relevant taxing authority,


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until such time as the [child/children] of the marriage are no longer under the age of
majority in the applicable jurisdiction.

D. SPOUSAL SUPPORT

The parties agree to the following:

________________________________________________________________________
________________________________________________________________________
________________________________________________________________________

[enter particulars of spousal support if applicable. If spousal support not applicable,
delete this section]

E. ASSETS AND LIABILITIES

Income Tax

        The Wife agrees that she has paid, or will pay when due all her income tax owing
to the relevant taxing authorities and that she will pay any and all outstanding taxes.

       The Husband agrees that he has paid, or will pay when due all his income tax
owing to the relevant taxing authorities and that he will pay any and all outstanding taxes.

Assets

The Wife shall hereafter own the following marital assets:

         Description                  __         ___Value_____

         _________________                           $_______

         _________________                           $_______

         _________________                           $_______



The Husband shall hereafter own the following assets of the marriage:

         Description                  __         ___Value_____

         _________________                           $_______

         _________________                           $_______



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       _________________                             $_______



Liabilities

The Wife shall be solely responsible and liable for the following debts of the marriage,
and shall indemnify and hold harmless the Husband from any and all liability hereunder.


              Description                    __         ___Value_____

       _________________                             $_______

       _________________                             $_______

       _________________                             $_______


The Husband shall be solely responsible and liable for the following debts of the
marriage, and shall indemnify and hold harmless the Wife from any and all liability
hereunder.

       Description                   __           ___Value_____

       _________________                             $_______

       _________________                             $_______

       _________________                             $_______

Neither the Wife nor the Husband shall pledge the credit of the other nor bind the other
for debt.

F. MATRIMONIAL HOME

        The Wife and the Husband hold in joint tenancy the matrimonial home located
at __________________________________________________________________.

         Upon the execution of this Agreement the [Wife/Husband] shall obtain sufficient
         financing from a banking institute of the relevant jurisdiction to discharge any
         obligation the Wife/Husband may have in respect to the mortgage obligations
         over the matrimonial home. The [Wife/Husband] will responsible for repairs
         and maintenance to the matrimonial home, pay the mortgage, maintain all taxes,
         insurance, heat, water, and other charges, and keep the matrimonial home fully




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           insured and will indemnify the Wife/Husband from all liability relating to these
           expenses.

or

           Upon the execution of this Agreement the Wife/Husband will transfer all of
           his/her right, title and interest in the matrimonial home property to the
           Wife/Husband. Any and all costs and attorney fees for the preparation of
           documentation for the transfer of title to the matrimonial property shall be the
           joint responsibility of the parties hereto.

or

           Upon the execution of this Agreement the Wife and the Husband shall list the
           matrimonial property for sale with a licensed real estate broker. The Wife and
           the Husband shall equally divide all proceeds received from the sale of the
           matrimonial home, less the payout of any mortgage balance owing on the
           matrimonial property, any outstanding taxes owing on the matrimonial property,
           real estate commissions and relevant attorney fees.

G. EQUALIZATION PAYMENT

         Upon the execution of this Agreement, the Wife/Husband shall pay to the
Wife/Husband, the sum of ______________ ($________) Dollars, being fifty (50%)
percent of the total amount of all assets of the marriage in full and final satisfaction of
any amounts owing to the Wife/Husband, save and except for any child support or
spousal support obligations.

Personal Property

          The contents of the matrimonial home have been divided between the parties or
have been purchased or the value set off against the value of other property by one or the
parties to the satisfaction of each of them.

Acceptance

The Wife and the Husband further acknowledge and agree that:

     1.   Each party has had the opportunity of obtaining independent legal counsel.
     2.   The facts contained herein are true and accurate.
     3.   They each have general knowledge of the other's affairs, assets and liabilities.
     4.   They each have acted in good faith and have made full disclosure of their
             financial circumstances to the other.

     They have each read and understood this Agreement; they each sign this Agreement
     as free agents, without any pressure, influence, or intimidation by anyone.



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       IN WITNESS WHEREOF the Wife and the Husband have executed this
Agreement on the ______ day of _______________, _____.




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DOCUMENT INFO
Description: This is an agreement between a husband and wife that intend to amicably end their marriage and separate permanently. This agreement is useful for both parties because it avoids costly and time consuming divorce litigation. In addition, this agreement can specify whether the couple has any children and how they decide to share the custody over their children. This agreement can be used by married couples that have children and want to reach an amicable separation agreement.
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